Bentley Systems (NASDAQ:BSY) Price Target Raised to $65.00

Bentley Systems (NASDAQ:BSY) had its target price raised by equities research analysts at Piper Sandler from $63.00 to $65.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 33.80% from the stock’s current price.

BSY has been the topic of a number of other research reports. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research report on Monday, September 16th. The Goldman Sachs Group lowered their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.50.

Bentley Systems Price Performance

BSY stock opened at $48.58 on Friday. Bentley Systems has a one year low of $43.82 and a one year high of $57.19. The company’s fifty day moving average price is $49.48 and its 200-day moving average price is $50.38. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market capitalization of $14.12 billion, a PE ratio of 42.61, a price-to-earnings-growth ratio of 4.17 and a beta of 1.04.

Insider Transactions at Bentley Systems

In related news, Director Barry J. Bentley sold 34,987 shares of Bentley Systems stock in a transaction on Monday, October 7th. The shares were sold at an average price of $48.37, for a total value of $1,692,321.19. Following the sale, the director now owns 12,213,248 shares of the company’s stock, valued at approximately $590,754,805.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Barry J. Bentley sold 34,987 shares of Bentley Systems stock in a transaction on Monday, October 7th. The stock was sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the transaction, the director now owns 12,213,248 shares in the company, valued at $590,754,805.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction on Monday, October 28th. The stock was sold at an average price of $48.95, for a total value of $2,447,500.00. Following the transaction, the director now owns 12,048,235 shares in the company, valued at approximately $589,761,103.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 326,032 shares of company stock valued at $16,168,176 in the last 90 days. 21.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bentley Systems

Institutional investors have recently bought and sold shares of the company. Norden Group LLC purchased a new position in Bentley Systems in the first quarter valued at approximately $224,000. Nordea Investment Management AB increased its position in shares of Bentley Systems by 7.9% in the first quarter. Nordea Investment Management AB now owns 15,569 shares of the company’s stock valued at $814,000 after buying an additional 1,146 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Bentley Systems by 6.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 40,326 shares of the company’s stock valued at $2,106,000 after buying an additional 2,571 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Bentley Systems by 70.8% in the first quarter. Oppenheimer & Co. Inc. now owns 14,259 shares of the company’s stock valued at $745,000 after buying an additional 5,912 shares in the last quarter. Finally, Forsta AP Fonden increased its position in shares of Bentley Systems by 45.0% in the first quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock valued at $3,316,000 after buying an additional 19,700 shares in the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

About Bentley Systems

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.